Network with the growing Business Community to get expert interventions to let you learn to Grow & Expand your Business with Franchising.

2013-10-10

Research and Innovation Are Key to MSME Global Competitiveness: K H Muniyappa

Research and innovation assume critical significance for micro, small and medium enterprises (MSMEs) in their quest for global competitiveness.

Research and innovation assume critical significance for micro, small and medium enterprises (MSMEs) in their quest for global competitiveness.

On the 10th Global India Summit organised by Confederation of Indian Industry (CII) in New Delhi in association with the Ministry of Micro, Small & Medium Enterprises, Government of India, Mr K H Muniyappa, Minister of State (Independent Charge), Ministry of Micro, Small & Medium Enterprises, Government of India, said the global event is a singular opportunity for participating enterprises from India and the overseas to engage in deeper knowledge sharing on MSME-relevant innovations.

Referring to the long-standing issue of timely credit flow to Indian MSMEs, Mr Munyiappa said he has called for a meeting of heads of Indian banks to find ways to speed up the advances to MSMEs. He urged Indian industry to also put forward their recommendations on tackling this issue. He stated that the MSME Ministry is discussing ways to enhance the Credit Guarantee Scheme to meet the needs of a greater number of enterprises.

Mr Muniappa said in his closing remarks that Indian MSMEs hold the key to job creation for the large number of young people who are entering the workforce.

CII and the Indian Institute of Foreign Trade (IIFT) signed a memorandum of understanding (MoU) for knowledge partnership in the presence of the minister.

Mr Madhav Lal, Secretary, Ministry of MSME, Government of India, said in his address that the sheer diversity of the MSME sector poses a big challenge to policy makers. Keeping this in view, the ministry is now attempting to introduce policies that meet the specific needs of MSMEs at different stages of their enterprise lifecycle. For instance, the finance and credit needs of an early stage enterprise are necessarily different from the needs of enterprises at a mature stage. Hence, policy interventions will be calibrated accordingly

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or
taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own
risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit www.franchiseindia.com/terms.